12 Times That Being Cheap Will Cost You

Everyone loves a good deal, but going cheap at the expense of your health, home or sanity is just plain stupid. To get you on track, we’ve rounded up 12 of the most penny smart and pound foolish moves you can ever make with your money.

'I subscribe and have KIND bars shipped to me monthly through Amazon,' she says.

'I don't pay shipping and it comes automatically out of my bank account. Grabbing a candy bar from the vending machine wastes money and calories.'

Going the poor man's divorce route to save $20,000

Skipping a $20,000 divorce sounds logical, but think twice before forgoing divorce, no matter how strapped you are.

From custody battles (who gets the kids?) to trouble remarrying and filing taxes, there's a buffet of issues to work through like late car payments, foreclosed homes and anything else your deadbeat spouse left kicking around that'll drag down your credit.

Gabrielle Clemens, an attorney at law in Boston and financial planner says it best: 'There's no good argument for staying married to someone who has no control of your life.'

Upping your insurance deductible to save upfront

It sounds smart on the surface, but increased exposure makes this a very bad idea, says Money Crashers founder Andrew Schrage.

The $10 you save a month won't even begin to pay for that wrecked Camaro or your flooded house.

'An unexpected event can force you to pay hundreds or thousands more, depending on how much you agreed to increase your deductible,' says Schrage.

Overpaying for extended warranties

In fact, retailers typically enjoy a greater gross profit on the extended warranty than they do on the product they're selling.

Standard warranties should be just enough to get you by.

On the flipside, if your PC or laptop breaks down, forgoing the extra $50 or $100 could cost you hundreds for wear and tear.

Overspending on bulk purchases to cut the grocery bill

'One of the biggest mistakes people make (buying in bulk) is that they think they'll use something up, but they end up throwing most of it away,' Parker Hurlburt, vice president of research for Acosta explains.

'The other mistake is that they don't compare sale prices to bulk prices.'

To curb the pain in your mouth and wallet, shop around for a bargain, consider visiting free and low-cost clinics, or check out a local dental and hygienist school for free or discounted care.

Splurging on daily deals to feel thrifty

Daily deals don't last forever, and as Your Money reporter/reformed Groupon addict Mandi Woodruff attests, 'after I dropped the ball on five of the suckers, I decided to wean myself off.'

Yes, there are ways to salvage expired daily deals--read how 8 Groupon die-hards did it here--but if they aren't time sensitive enough for you to remember to use them, you're basically flushing money down the drain.

Shirking your pet's health to beat the vet bill

Avoid the heartache--and cost--of an ER visit by brushing your pet's teeth, splurging on the healthier, vet-recommended food and following up on routine check-ups and exams.

Your pet's life depends on it.

Not getting a prenup to stave off attorneys' fees

Much like forgoing a divorce, not getting a prenup could turn your bailout plan into a chaotic mess, where the only one cashing the check is your lawyer.

'Any time you can set forth a framework for an outcome, it's more efficient and saves a lot of money if they have to engage in litigation and go to court,' says Clemens, the divorce financial planner.

It could also spare you from having to flesh out things later at the expensive cost of an attorney.

If you haven't broached the subject with your spouse, check out our guide to doing it without getting dumped, here.

Leasing a car to avoid the mileage penalty

Lease terms typically run for three years, allowing for 36,000 miles of driving, or 12,000 miles per year.

Exceeding that annual limit will cost you per mile--the mileage penalty--so if you know you're going to drive over the limit, it's better to just pay upfront, says Phil Reed, senior consumer advice editor at Edmunds.com.

Now that you've saved some money ...

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